Nio — the Tencent-backed electric-car startup widely seen as the Tesla of China — has become a darling for investors on the stock-trading app Robinhood, a no-fee brokerage popular among younger traders.

Shares have gained 46% since their US initial public offering last week, and are now held by 46,971 Robinhood investors, the site’s data shows, making it the 29th most held stock.

To give some content, another popular Chinese tech stock, iQiyi, referred to as the Netflix of China and currently the 31th most popular stock on the brokerage, first appeared in the top 100 in late May — two months after it was listed on US markets.

Nio, originally named NextCar, was founded by William Li in November 2014, and changed its name in July 2017.

According to Evercore ISI's Arndt Ellinghorst, China could have 4 million electric vehicles in 2023, with Nio likely grabbing around 13% of total market share and 42% of the mid- and premium- electric market. That'll cause its revenue to double that time, he said.